Was oBike just building to sell?

WHEN oBike exited Singapore this week, it cited difficulties in complying with the new bike-sharing regulations. But The Business Times uncovered that financial pressures could have played just as big a part in its pull-out: The homegrown bike-sharing operator had cash flow woes, had run up a loss of more than S$4 million in 2017, and had been looking for an acquirer (though that came to naught).

oBike had been hoping to get lucky, as did its rival Mobike. In April, Mobike got acquired for US…